Super Micro Computer, Inc. (SMCI): debt financing — Super Micro Taiwan subsidiary ups CTBC credit lines to $185M from $105M

Super Micro Computer, Inc.

Aggregate borrowings cap increased to $185.0 million from $105.0 million under omnibus credit lines.
New credit lines include NTD 1.25B short-term loan/guarantee line, $40M USD short-term loan, $105M export/$50M import lines.
An incremental import line of $80M is available through August 31, 2024, subject to quarterly review.
Subsidiary had no borrowings under the new lines as of January 31, 2024; proceeds to finance receivables/payables.
Financial covenants include current ratio and debt service coverage; parent must maintain 100% ownership of subsidiary.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Super Micro Computer, Inc. incurred credit facility of aggregate total borrowings of up to $185.0 million with CTBC Bank Co., Ltd..

Instrument: credit facility
Principal: aggregate total borrowings of up to $185.0 million
Counterparty: CTBC Bank Co., Ltd.
Event: incurrence

Exact text from the filing

On February 16, 2024 (the “Effective Date”), the Subsidiary entered into a new general agreement for omnibus credit lines with CTBC Bank, which increased the aggregate total borrowings from time to time under the various individual credit arrangements with CTBC Bank from $105.0 million to $185.0 million.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Super Micro Computer, Inc. entered into general agreement for omnibus credit lines with CTBC Bank Co., Ltd. valued at up to $185.0 million (effective 2024-02-16).

Action: entry
Agreement: credit facility
Counterparty: CTBC Bank Co., Ltd.
Value: up to $185.0 million
Effective: 2024-02-16

Exact text from the filing

On February 16, 2024 (the “Effective Date”), the Subsidiary entered into a new general agreement for omnibus credit lines with CTBC Bank, which increased the aggregate total borrowings from time to time under the various individual credit arrangements with CTBC Bank from $105.0 million to $185.0 million.

View on SEC.gov

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Source: SEC EDGAR

accession 0001375365-24-000014

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